Marks and Spencer announces bumper £15m pay package for its 40,000 frontline staff September 21, 2022 Marks and Spencer has announced a bumper £15m pay package to support its 40,000 frontline staff during the cost of living crisis. The British high-street giant is also introducing an autumn pay review for the first time, while extending its benefits scheme for workers. More than 40,000 workers will get a boost to their hourly [...]
City Pub Group shares swell as firm ready to ‘take advantage of opportunities’ from economic turmoil September 21, 2022 City Pub Group shares bounced up more than 10 per cent on Wednesday morning, after the pub company posted elevated sales. In interim results, the company said sales soared to £26.1m, after pubgoers returned after the easing of Covid lockdown rules. For the first half of 2021, the company had cashed in revenue of £8.9m, [...]
JD Sports agrees multi-million pound exit terms with former boss Peter Cowgill September 21, 2022 Former JD Sports’ boss Peter Cowgill is set to receive £5.5m after making his departure from the sportswear retailer. After decades at the helm of the London-listed firm, Cowgill stepped down following several brushes with the competition watchdog. Now, JD Sports has said it has agreed exit terms with Cowgill, including a £3.5m payment over [...]
Ocado shares sink after HSBC downgrade September 20, 2022 Shares in Ocado sank on Tuesday after HSBC analysts downgraded the grocery delivery firm from a Hold to a Reduce rating. HSCB’s notes caused shares in the middle-class favourite to drop by more than eight per cent after Ocado warned last week that soaring inflation will weigh on its profitability in Q4. The firm warned [...]
Ashley vs Cowgill: Has Sports Direct boss had the last laugh in retail rivalry? September 20, 2022 NEWS of Mike Ashley’s departure from Frasers also signals the end of one of retail’s most tempestuous rivalries, after JD Sports’ boss Peter Cowgill exited his own sportswear giant earlierthis year. After decades of high street tussle, the two retail titans have now both relinquished their roles behind two of the country’s largest athleisure brands. [...]
Exclusive: ‘Covid papered over many cracks which gave firms a false positive’, warns Leonard Curtis CEO September 20, 2022 City PM reported recently that millions of people across the UK are now struggling to make ends meet, with only one in ten saying they don’t have any financial concerns. And it’s not just individuals that are struggling: Rising bills are the biggest worry for UK businesses, with many concerned about the spiralling cost of [...]
Eve shares crash after sleep wellness brand further cash injection needed September 20, 2022 Mattress seller Eve Sleep has seen shares crash by almost 50 per cent after admitting it will need further funding in October. Shares were down 47.5 per cent on Tuesday morning, after the firm said shoppers had shunned big ticket items and homeware goods amid pressure on household budgets. While a number of indicative offers [...]
Multi-billion FTSE newcomer Haleon shows there is life after GSK September 20, 2022 The owner of popular health products such as Sensodyne and Panadol said this a.m. its revenues have jumped up by more than 13 per cent, to a record £5.2bn, during the first half of the year. Healthcare giant Haleon further reported a double-digit hike in profits in the group’s first-ever set of company results since [...]
Hospitality firms plead for urgent detail on energy support September 20, 2022 Pubs and restaurants are “still in the dark” about how energy support promised by the government will help them “to not only survive but thrive again.” Prime Minister Liz Truss is set to unveil more details about a six-month scheme to support businesses on Friday, after promising firms equivalent aid to an energy price cap [...]
